Top1031

865 Bellevue Apartments

Multifamily property in Nashville, TN · sponsored by Cantor Fitzgerald

Historical · soldSold Dec 2022, as reported by Cantor Fitzgerald · last Form D Apr 3, 2020Sponsor source (opens in a new tab)

865 Bellevue Apartments was a DST sponsored by Cantor Fitzgerald that owned a multifamily property in Nashville, TN. Cantor Fitzgerald sold the property in Dec 2022, as reported by the sponsor.

How it ended

Sold, result reported by the sponsor

Sold Dec 2022.

Total return
156.0% as reported by the sponsor
Date
Dec 22, 2022
Held
3.0 years

Sponsor document (opens in a new tab)

Cantor Fitzgerald has 5 active offerings on record →

Key facts

A free account shows how much of each active offering has sold and the Sponsor Grade letters.
Minimum investment
$25,000
From the Form D
Offering size
$28,250,000
Equity offered, per the Form D
Sold
100%
Form D, Apr 3, 2020; the % is our arithmetic
Investors reported
72
Form D, Apr 3, 2020
Selling commissions
$2,401,250 · 8.5% of offering
Form D Item 15; the % is our arithmetic
Financing
Not in the Form D. The Form D for this offering does not say whether it carries mortgage debt.
How it is financed ↓
Offered under
Rule 506(b)
General advertising and solicitation are not permitted under this exemption.

Figures come from SEC Form D filings unless a source is cited. Sponsor-stated figures are as reported by the sponsor; Top1031 does not independently audit them. On a 45-day clock? Find day 45 and day 180 →

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Ask a 1031 specialist about this recordFree. About: 865 Bellevue Apartments. Top1031 is not a broker-dealer.

What did 865 Bellevue Apartments own?

The property is a 326-unit garden-style apartment community at 865 Bellevue Road in Nashville. 2 A joint venture of Cantor Fitzgerald and Hamilton Zanze bought it from Aimco for $56.7 million in March 2019. 3 Cantor said it upgraded select apartment interiors and community amenities during its ownership. 4

Reported location
Nashville, TN

How was it financed, and what did it cost to sell?

The 2019 purchase was financed with a $36.8 million Fannie Mae loan arranged through KeyBank. 3 Cantor said the December 2022 buyer took over the long-term fixed-rate financing, meaning the loan stayed in place and passed to the new owner. 4

Debt

Financing
Not in the Form D. The Form D for this offering does not say whether it carries mortgage debt.

Costs and terms from the Form D

Selling commissions
$2,401,250 · 8.5% of offering
Finders’ fees
$72
Paid to officers, directors and promoters
$5,098,761 · 18.0% of offering
Form D Item 16
· The filing’s note: “CF Bellevue Depositor, LLC (the "Depositor") was responsible for paying certain fees and costs of approximately $3,482,511. The remaining $1,616,250 was retained by the Depositor and its affiliates.”
Broker-dealers named in the Form D
20 named in the Form D
Show the firms

Individual representatives named in Item 12 are not listed.

Date of first sale
May 24, 2019
Minimum investment
$25,000

Form D Item 15 and Item 16 amounts may be the issuer’s estimates; each percentage is Top1031’s arithmetic on two Form D figures. Item 16 can overlap Item 15, so Top1031 does not add them together. The issuer marked these amounts as an estimate.

What does the SEC record show?

The offering was made under Rule 506(b), a private placement sold to investors the sponsor already knew, without general advertising. The later amendment reported May 24, 2019 as the date of the offering's first sale. 6

Legal Trust name
CF Bellevue Multifamily DST
SEC CIK
1774159
First Form D
May 7, 2019
Latest Form D
Apr 3, 2020
Filings on record
2
Offered under
Rule 506(b)
General advertising and solicitation are not permitted under this exemption.
Source filing
Read the filings on SEC EDGAR

SEC Form D filings, newest first

FiledFormOffering amountAmount soldInvestors
Form D/A$28,250,000
$28,250,000+$28,250,000
72
EDGAR
Form D$28,250,000
$0
EDGAR

Amounts, investor counts and minimums are as filed with the SEC on Form D. The change lines are Top1031’s arithmetic between consecutive filings; a new Form D notice starts a new count.

A Form D is the notice a sponsor files when it starts raising money. A Form D filing does not mean the SEC approved, endorsed, or verified the offering.

Common questions

What happened to 865 Bellevue Apartments?
865 Bellevue Apartments is a Historical offering. Sold Dec 2022, as reported by Cantor Fitzgerald.
What does CF Bellevue Multifamily DST own?
It is the investor vehicle tied to 865 Bellevue Apartments, a 326-unit garden-style apartment community at 865 Bellevue Road in Nashville, Tennessee. A joint venture of Cantor Fitzgerald and Hamilton Zanze bought the property from Aimco for $56.7 million in March 2019, according to Multi-Housing News, which cited public records.
Who pays the rent at 865 Bellevue Apartments?
Apartment residents do, under short leases, so there is no single corporate tenant and rents reset as units turn over. Hamilton Zanze's May 2019 announcement said property management had transferred to its affiliate Mission Rock Residential.
How was the property financed?
The 2019 acquisition was funded in part with $36.8 million of Fannie Mae acquisition financing from KeyBank, as reported by Multi-Housing News. Cantor Fitzgerald's sale announcement said the 2022 buyer assumed the long-term fixed-rate financing rather than paying it off.

In the news

Sources

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DST interests are illiquid private securities. You may lose some or all of your investment. Distributions, tax treatment, and exit timing are not guaranteed. Review the current offering documents before investing.